Gibraltar-based Lamp was placed into liquidation on 31st May 2019. The firm provided a range of insurance policies to the UK retail and commercial market, including home insurance, GAP insurance, health insurance and after the event insurance.
See our insurance compensation limits and their conditions on our Insurance page.
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20 Sep, 2019
Now4cover home insurance policies – FSCS compensation payments
Eligible policyholders will receive their compensation payments during the week starting 23rd September 2019. FSCS compensation is 90% of the unused part of the premium, with the amount calculated by the LAMP liquidator.If your cover was transferred to Red Sands, you will have already received your new policy details from now4cover. Your compensation payment will be made to Red Sands.
If you used credit facilities to pay your premium, your compensation payment will be made to the finance company.
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13 Sep, 2019
Warranty Direct
The liquidator disclaimed LAMP GAP policies through Warranty Direct on Thursday 29th August 2019. This means that these policies are no longer in force.Policyholders who held a LAMP GAP policy through Warranty Direct that’s been disclaimed are entitled to a pro-rata return of premium on the unused period of their policy. The liquidator has calculated the return of premium value from LAMP’s records and passed this information to FSCS. We can now make compensation payments to eligible policyholders.
FSCS compensation is 90% of the return of premium value calculated by the liquidator. There’s no need for eligible policyholders to make a claim with FSCS.
FSCS compensation cheques were sent to policyholders on Wednesday 11th September 2019.
If you have not received a cheque and Warranty Direct has not already been in touch, please contact Warranty Direct.
H3
The liquidator disclaimed LAMP health insurance policies through H3 on Wednesday 4th September 2019. This means that these policies are no longer in force.H3 has arranged new alternative cover for you and if you have any questions about your new cover you should contact H3.
Policyholders who held a LAMP health insurance policy through H3 that’s been disclaimed are entitled to a pro-rata return of premium on the unused period of their policy. The liquidator has calculated the return of premium value from LAMP’s records and passed this information to FSCS so we can make compensation payments to eligible policyholders.
FSCS compensation is 90% of the return of premium value calculated by the liquidator. There’s no need for eligible policyholders to make a claim with FSCS. We will send you your cheque as soon as possible.
If you used credit facilities with Close Brothers to pay you premium, the compensation will be paid to the finance company.
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26 Jul, 2019
Dental Implant policies
The LAMP liquidator disclaimed the LAMP Dental Implant Policies on 26th July 2019. This means these policies are no longer in force.Policyholders who held a LAMP dental implant policy that’s been disclaimed will be entitled to a pro-rata return of premium on the unused period of their policy. The liquidator has calculated the return of premium value from LAMP’s records and passed this information to FSCS so we can make compensation payments to eligible policyholders.
now4cover home insurance policies
The liquidator disclaimed LAMP home policies through now4cover on Wednesday 25th July 2019. This means these policies are no longer in force.now4cover will have written to you about your LAMP policy before this date.
FSCS worked with now4cover and the LAMP liquidator to arrange a transfer of cover to Red Sands for as many policies as possible, where the policyholder chose to be included in the transfer. If your policy was transferred, you’ll receive your new policy details from now4cover.
Some policies were not transferred. These policyholders will be entitled to a pro-rata return of premium on the unused period of their policy. The liquidator has calculated the return of premium and passed the information onto FSCS so that we can make compensation payments to eligible policyholders. Please note that if you paid your premium using credit facilities, the compensation payment will be made to the finance company.
If you cancelled your now4cover policy before the disclaimer date, and hadn’t made a claim on your policy, you may be entitled to a return of premium. The liquidator has calculated the return of premium for these cases and passed the information to FSCS to make the compensation payment. If you used credit facilities to pay your premium, the compensation will be paid to the finance company.
FSCS compensation is 90% of the return of premium value calculated by the liquidator. There’s no need for eligible policyholders to make a claim with FSCS. Your compensation cheque will be sent to you as quickly as possible.
FSCS protects UK policyholders who are private individuals and small companies whose annual turnover is less than £1m.
All other LAMP policies
FSCS and the liquidator are continuing to arrange transfer of cover, but it is not yet known whether the transfers will be possible.We’ll post another update when we have more news.
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28 Jun, 2019
FSCS has today made its first compensation payments to policyholders of Lamp Insurance. Compensation has been paid to a number of policyholders who had outstanding property damage claims when the insurer collapsed.
FSCS continue to work with the Liquidator and others to facilitate the payment of protected claims and policy refunds.
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12 Jun, 2019
The liquidator has appointed Quest Consulting (London) Ltd of 52-54 Gracechurch Street, London EC3V OEH, United Kingdom to administer claims and communications in respect of insurance claims. These should be sent to lamp@quest-group.co.uk.
Quest Consulting (London)
If you've any questions, contact Quest Consulting on the number below, or via email at lamp@quest-group.co.uk.
Warranty Direct
Commonly asked questions
FSCS will protect UK individuals and business customers with an annual turnover of less than £1m.
The Liquidator will be considering which policies should be terminated. When we've more information we'll provide details of products affected and the proposed dates of termination.
Eligible policyholders are protected for 90% of the unexpired value of their premium.
If you'd like to cancel your policy, you should contact your broker who'll advise you on how this might affect the value of return of premium on your policy.
Replacement insurance
If your broker or the liquidator can replace your policy with a new insurance provider, FSCS will pay the broker the return of premium compensation where we have reached an agreement with them.
Your broker will then pass this return of premium on to your new insurance provider. Your broker/new insurer will tell you if they’ve replaced your policy and you will be able to cancel any replacement cover during the 'cooling off period'.
FSCS may not be able to pay compensation if a broker funds replacement cover or pays return of premium on its own without securing an undertaking from you that you are required to repay them.
ATE (After the Event) insurance
These policies do not attract a return of premium because of their nature and at present they remain in force.
Premium finance
FSCS will aim to pay finance companies where you have bought the cover using a loan that required you to assign your rights to the finance company. For example, if you bought your cover using credit from either Close Brothers or Premium Credit, we will aim to pay the compensation directly to them and it will go towards paying back the loan.
We will provide more information on how to make a claim for return of premium as soon as we can.
If you paid for your insurance using a credit card, in certain circumstances the credit card company will reimburse you for the product you have bought. You should contact your credit card company to find out how they can help you. Tell FSCS if you successfully claim from your credit card company as this money will have to be deducted from any claim you make to FSCS.
You may be breaking the law if you attempt to claim the same loss back from both FSCS and your credit card company. Where FSCS pays you a return of premium claim we would inform your credit card company if they ask us.
You should contact your broker or existing claims handlers who have already written to you about your claim. We will publish more information once the liquidator has confirmed the claims handling arrangements.
You should contact your broker or existing claims handler. We will also continue to update this page with the latest developments. Get notification of the latest updates by following us on Twitter and Facebook or sign up to receive email alerts by clicking on the other tab above.